We will be crossing and recrossing the rivers of Ukraine, Russia, Gaza and Israel. To some extent we are at the mercy of the actions that happen on the ground and in the air.

Apparently Tsar Putin is doubling down on his bet in eastern Ukraine; he's on the verge of sending in heavy weapons (artillery) to aid the barbarians who have desecrated the murdered of Malaysia Flight 17 and its mechanical wreckage.

Equities took center stage today as the Dow and NASDAQ fell on earnings reports while the benchmark S&P 500 hit a record high for a third straight day.